ITEM 5.02 Departure of Directors or Certain Officers? Election of Directors?
Appointment of Certain Officers? Compensatory Arrangements of Certain Officers
On April 16, 2023, the Board of Directors (the "Board") of Nordstrom, Inc. (the
"Company") appointed Eric D. Sprunk, age 59, to the Board. The appointment was
effective immediately.
Mr. Sprunk has more than 25 years of leadership experience in the consumer
retail industry. He most recently served as Chief Operating Officer of NIKE,
Inc. from 2013 to 2020, where he led the teams responsible for manufacturing,
sourcing, sales, procurement and technology. During his time at NIKE, he held
various executive positions of increasing responsibility, including Executive
Vice President, Global Product and Merchandising from 2008 to 2013 and Executive
Vice President and General Manager, Global Footwear from 2001 to 2008. Prior to
joining NIKE, Mr. Sprunk was a certified public accountant at PriceWaterhouse
responsible for client service of large multi-national companies and financial
services organizations.
As a nonemployee director, Mr. Sprunk will receive compensation for his service
on the Board equivalent to the cash retainer and common stock award compensation
described under the caption "Director Compensation and Stock Ownership
Guidelines" of the Company's proxy statement that was filed with the Securities
and Exchange Commission ("SEC") on April 7, 2022. He will also be eligible to
participate in the Company's other compensation benefit plans and programs for
nonemployee directors as described in such proxy statement. In addition, the
Company plans to enter into its standard Independent Director Indemnification
Agreement with Mr. Sprunk, the form of which was filed with the SEC as exhibit
10.78 to the Company's Annual Report on Form 10-K for the year ended January 29,
2011.
There are no transactions between the Company and Mr. Sprunk which require
disclosure pursuant to Item 404(a) of Regulation S-K. At the time of this Form
8-K, the Board has not determined the committee(s) to which Mr. Sprunk will be
appointed.
ITEM 8.01 Other Events
On April 17, 2023, the Company issued a press release announcing the appointment
of Mr. Sprunk, a copy of which is attached as Exhibit 99.1 hereto and
incorporated herein by reference.
ITEM 9.01 Financial Statements and Exhibits
99.1 Press release of Nordstrom, Inc., dated April 17, 2023.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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